Put the value of your home to good use


Special 1.99% APR* introductory rate for Home Equity Credit Lines. Learn more


 

Access the cash you need now in your home’s equity for

  • Home Improvement
  • Furniture and Appliances
  • Debt Consolidation
  • Education Expenses
  • Weddings and Events
  • And more!

We offer the following options for equity borrowers:

Home Equity Loans and Lines of Credit

Both of these loans allow you to borrow a percentage of your home’s current appraised value, less your first mortgage balance. They both feature competitive rates, no application fee and no closing costs on loans or lines up to $125,000**. Plus, interest may be tax deductible for more borrowers!***

Home Equity Loans feature

  • Loans up to $125,000
  • Borrow up to 80% of the appraised value of your property 
  • Fixed rate/fixed payment

Home Equity Lines feature

  • Lines up to $300,000
  • Borrow up to 80% of the appraised value of your property
  • No payments until you use the line. 15 year repayment term after draw period
  • Introductory rate for loans up to $175,000
  • Option to access funds for 5 or 10 years
  • Option for interest-only payment for up to 10 years

Equity Edge Loans

Edge Loans do not require that you have any equity in your loan, but good credit.

Equity Edge Loans feature

  • Loans up to $30,000
  • Equity in your home not required 
  • No appraisal or application fee

 

What is Equity?

Equity is the difference between your home’s market value and your current mortgage balance. If, for instance, the marketing value of your home is $150,000 and your mortgage balance is $100,000, your equity is $50,000. You can put this equity to work with a low-cost credit union loan.

 

*APR = Annual Percentage Rate. Offer valid for approved applications received on or after March 1, 2016 with a maximum line amount of $175,000 and maximum loan to value of 80%. Subject to credit qualifications. Promotional offer subject to change or terminate at the discretion of MHV. MHV will pay select closing costs on line amounts up to $125,000. Closing costs may be recaptured if the line is closed/terminated within the first three years. Offer not available for Equity Edge or Home Equity Fixed Rate Loans. Promotional APR will terminate at the end of the promotional period and your rate will be determined by indexing the Prime Rate published in the Wall Street Journal the third Friday of February, May, August and November minus .25% and will be noted on your monthly statement. Prime Rate minus .25% is 3.25% as of 1/27/16. Maximum rate is 18% APR. Additional terms and conditions may apply. See Branch or call for details.**See your tax advisor for details.**Rates, terms and conditions are subject to change without notice. Loan subject to credit approval. Closing costs paid by the Credit Union may be recaptured if: (1) Line/loan is closed/terminated within the first three years. (2) Equity Edge Loan is closed/terminated within the first twelve months. ***See your tax advisor for details.